Standard Chartered Faces Sanctions on Hong Kong IPO

Standard Chartered Faces Sanctions on Hong Kong IPO

Standard Chartered is facing potential sanctions from Hong Kong authorities over the handling of its stock market flotation. The Hong Kong Securities and Futures Commission warned that it is intending to take action against the bank related to an IPO in 2009. It is thought to be for the share sale of China Forestry which is being liquidated.

“Standard Chartered is facing potential sanctions from Hong Kong authorities over the handling of its stock market flotation.”

~ The Guardian

Standard Chartered had worked alongside UBS for the flotation and it is also being investigated by the SFC for its role in a number of local IPOs.

StandardChartered Bank was formed in 1969 through the merger of two separate banks, the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. These banks had capitalised on the expansion of trade between Europe, Asia and Africa. We’re one of the world’s most international banks, with over 1,200 branches, offices and outlets in 71 countries across the globe.